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The S&P 500 VIX or volatility gauge, also known as Wall Street’s fear index, rose above 40 on Thursday to reach the highest level since June, as stock markets tanked on coronavirus fears. 

The S&P 500 tumbled by 3.5%, marking its worst rout in four months as investors feared that rising virus cases would force the government to reimpose the economically-painful lockdown restrictions. 

Some of the Eurozone nations have already taken steps to contain the second wave of the virus. Notably, French President Emmanuel Macron announced a second national lockdown on Wednesday, which is expected to last at least a month. Germany, too, is considering reimposing restrictions.